TransactionsNew Gold Completes $1.2 Billion Business Combination with Western GoldfieldsPublished: 07/09/2009 By Eva Bellissimo, Andre Boivin, Angela Chu, Stuart English, Cameron Mingay, Ken Snider On June 1, 2009, New Gold Inc. and Western Goldfields Inc., both Canadian mining companies listed on the TSX and the NYSE Amex, completed a business combination, pursuant to which New Gold acquired all of the issued and outstanding shares of Western Goldfields on the basis of one New Gold share and Cdn$0.0001 for each Western Goldfields share acquired by way of a court-approved plan of arrangement. The market capitalization of the combined company on the closing date was approximately $1.2 billion. Cassels Brock acted for Western Goldfields with a team that included Cam Mingay (Securities), André Boivin (Securities), Eva Bellissimo (Securities), Jason MacIntosh (Securities), Angela Chu (Securities), Stuart English (Business Law) and Ken Snider (Tax). Cassels Brock remains continuing counsel of New Gold following the business combination. |